XML 32 R23.htm IDEA: XBRL DOCUMENT v3.23.4
Balance Sheet Information (Tables)
 6 Months Ended
Dec. 29, 2023
Disclosure Text Block Supplement [Abstract]  
Summary of Debt Securities, Available-for-sale
The following table summarizes, by major type, the fair value and amortized cost of the Company’s available-for-sale debt investments as of December 29, 2023 and June 30, 2023:
December 29, 2023June 30, 2023
(Dollars in millions)Amortized CostUnrealized Gain/(Loss)Fair ValueAmortized CostUnrealized Gain/(Loss)Fair Value
Available-for-sale debt securities:   
Money market funds$90 $— $90 $73 $— $73 
Time deposits and certificates of deposit1 — 1 1 — 1 
Other debt securities15 — 15 16 — 16 
Total$106 $— $106 $90 $— $90 
Included in Cash and cash equivalents  $89 $72 
Included in Other current assets  2 2 
Included in Other assets, net15 16 
Total  $106 $90 
Fair value and amortized cost of available-for-sale securities by contractual maturity
The fair value and amortized cost of the Company’s investments classified as available-for-sale debt securities as of December 29, 2023, by remaining contractual maturity were as follows:
(Dollars in millions)Amortized CostFair Value
Due in less than 1 year$91 $91 
Due in 1 to 5 years15 15 
Total$106 $106 
Cash, cash equivalents, and restricted cash
The following table provides a summary of cash, cash equivalents and restricted cash reported within the Company’s Condensed Consolidated Balance Sheets that reconciles to the corresponding amount in the Company’s Condensed Consolidated Statements of Cash Flows:
(Dollars in millions)December 29, 2023June 30, 2023December 30, 2022July 1, 2022
Cash and cash equivalents$787 $786 $770 $615 
Restricted cash included in Other current assets2 2 2 2 
Total cash, cash equivalents and restricted cash shown in the Statements of Cash Flows$789 $788 $772 $617 
Inventories
The details of the inventories were as follows:
(Dollars in millions)December 29, 2023June 30, 2023
Raw materials and components$214 $241 
Work-in-process627 682 
Finished goods212 217 
Total inventories$1,053 $1,140 
Schedule of Other Current Assets
The details of the other current assets were as follows:
(Dollars in millions)December 29, 2023June 30, 2023
Vendor receivables$122 $167 
Other current assets195 191 
Total$317 $358 
Property, Equipment and Leasehold Improvements, net
The components of property, equipment and leasehold improvements, net, were as follows:
(Dollars in millions)December 29, 2023June 30, 2023
Property, equipment and leasehold improvements$10,270 $10,267 
Accumulated depreciation and amortization(8,628)(8,561)
Property, equipment and leasehold improvements, net$1,642 $1,706 
Accrued expenses
The details of the accrued expenses were as follows:
(Dollars in millions)December 29, 2023June 30, 2023
Dividends payable$147 $145 
Other accrued expenses596 603 
Total$743 $748 
Schedule of accumulated other comprehensive income (loss)
The components of AOCI, net of tax, were as follows:
(Dollars in millions)Unrealized Gains/(Losses) on Cash Flow HedgesUnrealized Gains/(Losses) on Post-Retirement PlansForeign Currency Translation AdjustmentsTotal
Balance at June 30, 2023$103 $(4)$(1)$98 
Other comprehensive (loss) income before reclassifications (9)— 1 (8)
Amounts reclassified from AOCI(87)— — (87)
Other comprehensive (loss) income(96)— 1 (95)
Balance at December 29, 2023$7 $(4)$— $3 
Balance at July 1, 2022$51 $(14)$(1)$36 
Other comprehensive income before reclassifications 51 — — 51 
Amounts reclassified from AOCI11 1 — 12 
Other comprehensive income62 1 — 63 
Balance at December 30, 2022$113 $(13)$(1)$99